AGP Executive Report

EU Trade Sanctions: The UK, then France, moved to ban trade with goods from illegal Israeli settlements in the occupied West Bank, with measures aimed at specific companies and individuals tied to settlement expansion (construction, infrastructure, financing, real estate). Portugal Angle: Portugal is named among the countries backing similar restrictions, putting pressure on settlement-linked supply chains and financing. Anti-Corruption Watch: Bangladesh’s ACC has opened an investigation into allegations of money laundering and corruption involving former adviser Asif Mahmud, including claims of assets built in Portugal and other financial hubs. Energy Investment: Masdar signed major clean-energy deals with European partners, including offshore wind and battery storage agreements in Germany worth billions, signaling continued capital flow into Europe’s transition. Business & Security Tech: A phishing campaign is abusing Microsoft’s mshta to deliver malware and steal credentials, highlighting ongoing cyber risk for enterprises.

EU Trade & Sanctions: Portugal is among 12 countries backing UK-led restrictions on goods linked to illegal Israeli settlements in the occupied West Bank, with the UK targeting specific companies and services tied to settlement expansion and France and Canada now following suit. Wildfire Risk & CAP: Portugal is urging the EU to fund livestock grazing (goats, cows and sheep) under the Common Agricultural Policy to cut wildfire risk and adapt rural areas to drought and extreme fires. Portugal Economy & Infrastructure: A new construction reporting standard is pushing for project progress to be measured by person-hours and machine-hours rather than budget spend alone, aiming to close the gap between money spent and work actually built. Tech & Consumer Timing: Apple has published a detailed fall calendar, including iPhone 18 Pro pre-orders opening Sept. 12 and EU App Store rules taking effect Oct. 1, while Siri AI is set to launch in beta on Sept. 14 with Portuguese among later additions. Tourism & Events: Portugal-linked travel chatter includes a push for better wildfire-prevention planning and ongoing interest in Portugal as a destination, alongside major international events like Macau’s fireworks contest.

EU Farm Policy: Portugal is pushing the EU’s next long-term budget to fund goat grazing and other livestock-based land management to cut wildfire risk, arguing the Common Agricultural Policy should be used as a climate adaptation tool. Trade & Sanctions: The UK’s settlement-goods ban is spreading: France and Canada have announced similar restrictions, targeting services and trade linked to illegal Israeli settlements in the occupied West Bank. Diplomacy: PM Anwar Ibrahim welcomed a 12-nation Western statement on illegal Israeli settlements, urging stronger, binding implementation using diplomatic and economic leverage. Business & AI: LEDEX Forum will bring 100+ business leaders to Olhão (Algarve) on 15 Oct for a practical AI conference focused on real decisions and next steps for companies. Finance & Security: Revolut says it disclosed customer identities and full Bitcoin transaction histories after a fraudulent request using a government agency email domain. Portugal Spotlight: A TAP Air Portugal-linked sleep researcher explains how napping affects alertness and performance, with lessons for shift workers and frequent flyers.

Foreign Policy & Trade: Portugal signals it backs using frozen Russian assets to support Ukraine, but warns Belgium’s push for EU-wide guarantees is “truly pertinent” to avoid disproportionate legal and financial risk. EU Housing & Tourism: A proposed EU framework would let towns restrict holiday-home ownership in “housing stress” areas, potentially making it harder for Britons to buy property abroad. Education & Skills: Prime Minister Luís Montenegro admits Portugal’s education has “lost quality and rigour,” citing worsening PISA results and new measures including tighter phone rules in schools. Cross-Border Infrastructure: Alcoutim and Sanlúcar de Guadiana mayors urge a final push to unblock the Guadiana international bridge after PRR grant deadlines and an environmental assessment hold-up. Energy Costs: Portugal’s energy debate echoes abroad as lawmakers push clean power and efficiency to cut bills amid rising costs. Digital Economy: Apple’s iOS 27 Siri AI features are excluded in the EU, with no published list of what’s blocked. Business & Finance Tech: Ethena’s USDe and sUSDe go live on TRON via Stargate, expanding dollar-stablecoin access for users and early DeFi partners.

Portugal Economy Check: Portugal’s PM Luís Montenegro says the country has Europe’s best growth and employment gains, but a Euronews fact-check points to Eurostat data that complicates the claim. Credit Rating: Fitch upgraded Portugal to A+, its best level in 15 years, boosting investor sentiment. Jobs & Labour Market: Eurostat reports a slight rise in EU employment in Q2 2026, with Portugal among the countries seeing an increase. TAP Privatization: Portugal is in final negotiations to sell shares in TAP, pressing for better offers from Lufthansa and Air France-KLM. Energy & Industry: EDP launched a 2.7 MW electric boiler at Paper Prime in Portugal, while ACER warns Portugal’s data-centre power demand is surging. Solar Sector Stress: BDO was brought in to oversee insolvency of Portugal’s major solar player Solara4, a sign of tougher conditions for European renewables. Circular Economy: Portugal approves a $2.67bn waste plan as landfills near capacity. Business Expansion: Atradius Surety expands into Canada, adding a new branch beyond Europe. Trade Policy Shock: The UK, followed by France and Canada, moves to ban goods from illegal Israeli settlements—an issue that could ripple into compliance and cross-border trade.

TAP Privatisation Watch: Portugal’s government has opened final talks to improve offers from Air France-KLM and Lufthansa for its 44.9% stake in TAP, keeping the carrier’s sale process firmly on the business agenda. EU Outer Regions Strategy: The European Commission unveiled a new strategic vision and regulatory package for the EU’s outermost regions, including Madeira and the Azores, aiming to adapt rules to local constraints and boost resilience. Portugal Credit Boost: Fitch upgraded Portugal to A+ for the first time since 2011, a key signal for investors watching sovereign risk. Tech & AI in Portugal: FuriosaAI says it has expanded globally with a Lisbon presence and set up a Singapore unit to commercialize AI inference chips across Asia-Pacific. Payments & Travel Data: A study using anonymized mobile signals around Lisbon Airport suggests airports can forecast passenger surges better and cut congestion and emissions. Sports Business: Bernie Ecclestone was detained in Portugal after police found an undocumented shotgun on his private jet, adding another headline to Portugal’s high-profile business-and-travel news.

Portugal & EU Policy: Portugal is named among 12 countries moving to restrict trade linked to Israeli West Bank settlements, with measures including trade curbs and targeted sanctions aimed at backing a two-state solution. Digital Rights & Big Tech: Lisbon’s D3 has filed lawsuits against Meta, TikTok and YouTube, alleging “addictive design” features like infinite scrolling and personalised feeds that keep users hooked. Aviation & Privatisation: Grupo SATA says Azores Airlines privatisation has attracted eight potential bidders, with documents due Sept. 21 and conditions including job and HQ retention in the Azores. Finance & Real Assets: Franklin Templeton, via Clarion Partners, is buying Stoneshield Capital, tripling Clarion’s European AUM to €11bn and lifting total Alternatives AUM above €265bn. Energy & Renewables: Sonnedix secured $1.3bn refinancing for Chile solar/wind plus a 117MW battery under construction, with operations expected in April 2027. Consumer Tech: iOS 27 lands Sept. 14, with Siri AI rolling out first in English and adding Portuguese among new languages in October.

Portugal Telecoms & Media: Pay-TV subscriptions in Portugal held at 4.7 million at end-Q2 2026, up just 14,000 year-on-year (+0.3%), with quarterly declines (-0.2%) extending a slowdown since 2015; fibre-to-the-home remains dominant (71.9% of connections). Aviation & Privatisation: SATA Holding says eight potential investors have expressed interest in buying at least 75% of Azores Airlines, with non-binding offers due Sept. 21; bidders must keep the airline’s HQ in the Azores and protect jobs for 30 months. EU Housing Policy: The European Commission proposed an Affordable Housing Act to give cities and national authorities clearer legal tools to curb short-term rentals and other uses that reduce supply for permanent residents, citing sharp rent rises including Lisbon. EU Clean Energy Jobs: An EEA report says clean-energy technologies are driving hundreds of thousands of EU jobs, but skills shortages and inclusion gaps could slow growth. Tech Consumer Watch: Apple unveiled iPhone Duo (foldable) plus iPhone 18 Pro/Pro Max and new Siri AI on iOS 27; watchOS 27 lands Sept. 14. Geopolitics & Trade: Portugal is among 12 countries backing tighter restrictions on trade in goods from illegal Israeli settlements in the West Bank, aligning with UK-led measures.

EU Housing Push: The European Commission unveiled an affordable housing plan giving cities more power to curb Airbnb-style short-term rentals, using a “housing stress” approach and requiring measures to be targeted and proportionate. Portugal & EU Energy Watch: A new EU audit warns REPowerEU is falling short of its energy-sovereignty ambitions, noting lower Russian gas imports also reflect mild winters and reduced demand from high prices. Clean Tech Jobs: The EU’s clean energy sector is generating hundreds of thousands of jobs, but a shortage of skilled workers could slow further growth. TAP & Aviation: Portugal’s government is pressing Air France-KLM and Lufthansa for improved offers as it continues final TAP negotiations. Fraud & Telecom Security: A former AT&T employee in Portland was sentenced to 16 months for SIM-swap fraud that helped drain nearly €600,000 from victims. Portugal Manufacturing Tech: Greenheck Group selected Critical Manufacturing MES in Porto to unify shop-floor visibility and support configure-to-order production. Global Trade Sanctions: The UK, joined by several countries including Portugal, moved to restrict trade in goods from illegal Israeli settlements, triggering Israeli retaliation including a demand to close the UK consulate in East Jerusalem within 30 days. Uber Africa Pivot: Uber says it sees strong potential in Kenya after exiting Uganda and Tanzania, citing pressure from rising costs and driver concerns.

TAP Privatisation Watch: Portugal’s government is in final talks to improve offers from Air France-KLM and Lufthansa for its 44.9% stake in TAP, keeping the airline sale front and centre for business planning. West Bank Trade Curbs: Britain, France and Canada moved to ban imports of goods from Israeli settlements in the occupied West Bank, with 12 countries in total (including Portugal) preparing national restrictions or backing EU steps; Israel retaliated by closing the UK consulate in Jerusalem and expelling UK-linked personnel. Relocation Rankings: Portugal appears in the Rumavi Global Relocation Index 2026 top 10, as Singapore, Malaysia, Taiwan and Hong Kong lead the pack—useful for investors and talent-watchers. Energy & Homes: Tesla opened Powerwall 3 installation consultations in Portugal after earlier moves in Germany and the Netherlands, signalling continued momentum in residential storage. Security & Trade: Europol backed a Spanish-led operation dismantling a major Western Mediterranean smuggling network, with Portuguese Judicial Police support. Sports Business: Manchester City beat Porto 2-0 in Champions League action, with Erling Haaland again driving the headlines.

West Bank Trade Sanctions: The UK announced a ban on imports of goods from Israeli settlements in the occupied West Bank and will also restrict services tied to settlement expansion (financing, construction, infrastructure, real estate and advertising). EU/Partner Coalition: Canada, France and 9 other European countries—including Portugal and Spain—confirmed they will introduce national restrictions or support EU-level measures, citing settler violence and settlement expansion as undermining the two-state solution. Israel Retaliation: Israel said it will close the British consulate in Jerusalem and take countermeasures, including expelling UK representatives from a Gaza monitoring centre and ending UK training for Palestinian Authority security forces. Portugal Tech & Industry: RASTECH Europe opened in Porto (Sept 8-9), highlighting how European aquaculture can scale recirculating systems via existing producers. Connectivity Update: Portugal’s broadband market hit 4.9m connections, with 1Gbps lines up sharply year-on-year.

TAP Privatisation Talks: Portugal is pushing for better bids in the sale of TAP, holding an additional round of negotiations with Lufthansa and Air France-KLM for a minority stake after Parpública assessed the first offers; the government wants improved proposals before picking a preferred partner for final talks. Energy Security: Portugal’s regulator ACER says the country faces electricity adequacy risks from 2028 to 2035, with projected reliability shortfalls rising sharply by 2035 as demand growth outpaces needed resources. EU Housing Pressure: The European Commission is preparing an Affordable Housing Act to curb short-term rentals in housing-stressed areas, giving local authorities power to restrict Airbnb-style lets where shortages are severe. Aviation & Travel Tech: IATA urges the EU to extend temporary flexibility for the Entry/Exit System (EES) biometric rules, warning that removing safeguards could worsen border congestion. Business & Finance (Macau): Macau reaffirmed a push to lift non-gaming sectors to about 60% of GDP by 2030 and set tourism/investment targets under its Third Five-Year Plan. Portugal in the Spotlight (Global): A Portuguese report says former F1 boss Bernie Ecclestone was detained at a Lisbon-area airport after a shotgun was found without the required documentation.

Portugal Golden Visa & citizenship: Portugal’s revised nationality law took effect May 19, 2026, extending the standard naturalisation period for most applicants from 5 to 10 years, and changing how residence time is counted (from when the residence card is received). Payments & banking infrastructure: Viva.com, Europe’s “tech bank” for businesses, has added direct connectivity to Portugal’s Multibanco network, enabling MB card and MB WAY acceptance across Europe and in-store/online via its omnichannel platform. Aviation & trade: Portugal’s Air travel and aviation ecosystem stays in focus as the week’s coverage includes TAP-related developments (government talks with Air France-KLM and Lufthansa) and broader industry pressure on maintenance and parts supply. EU border rules: From Sept 7, the EU Entry/Exit System flexibility that temporarily eased biometric steps is ending, raising the risk of longer queues for travellers. Business finance (Portugal-linked): Banco BPI is set to sell its 33.35% stake in Banco de Fomento Angola to Angolan investor Nelson Carrinho for $452m, marking a potential end to a 30-year Portuguese presence in the lender. Sustainability policy: France dropped plans for mandatory plastic bottle deposits, opting for voluntary local schemes instead.

Housing Affordability: A new European study says over 70% of people live where income can’t buy a 75 m² home without dedicating a third of earnings to a 30-year mortgage, with big-city hotspots including Madrid. EU Housing Rules: Brussels is preparing tougher limits on short-term rentals and second homes, giving local authorities more power to restrict Airbnb-style lets as the housing crunch deepens. TAP Privatization: Portugal has entered a decisive phase of TAP Air Portugal talks, asking Lufthansa and Air France-KLM to improve bids for a 44.9% stake in the national carrier. Payments & Retail: Wero is expanding in France via Orange, enabling subscription bill payments through banks’ apps using the European Payments Initiative platform. Scam Watch: BBB Scam Tracker data shows Ohio cities with reported fraud incidents in July, underscoring ongoing consumer losses. Trade & Travel: Southwest added LOT Polish as an interline partner, but partner itineraries still can’t be booked on Southwest.com. Portugal Angle: Portugal is listed among countries participating in Qatar’s S’hail 2026 hunting and falconry exhibition, highlighting cross-border tourism and commerce links.

EU Housing Crackdown: The European Commission is preparing tougher rules to curb short-term holiday rentals and second homes in areas under housing pressure, with Brussels expected to clarify when local authorities can restrict rentals and even limit non-primary home use—an issue that hits tourism-heavy countries like Croatia hard. Portugal Finance Boost: Fitch upgraded Portugal’s sovereign rating to A+ for the first time since 2011, citing stronger public finances and a debt-reduction path, while keeping a stable outlook. Portugal Waste Plan: Portugal approved a €2.3bn investment plan through 2030 to tackle landfill capacity limits, pushing more separate collection, recycling and treatment to cut reliance on landfills. TAP Privatisation Talks: Portugal has opened final negotiations over TAP’s sale with Air France-KLM and Lufthansa, seeking improved offers. Banking Deal (Angola): Banco BPI agreed to sell its 33.35% stake in Angola’s BFA to Congolian Financial for €388.5m (potentially higher with dividend-linked payments). EU Border Changes: From Sunday, the Entry/Exit System (EES) resumes across EU borders, raising the risk of longer queues for travellers entering countries including Portugal.

Portugal Economy & Finance: Fitch upgraded Portugal’s rating to A+ with a stable outlook, a signal investors will watch for borrowing-cost spillovers. TAP Privatisation: Portugal opened final talks on TAP’s sale with Lufthansa and Air France-KLM, seeking improved offers for the state’s 44.9% stake. Utilities Markets: Citi reiterated a Buy on EDP Energias de Portugal, pointing to solid quarterly results and an upside versus the current share price. EU Policy & Mobility: The EU’s Schengen/free-travel rules faced renewed pressure after the Ceuta/Melilla crossings, with Portugal’s foreign minister saying there was no immediate Schengen threat. Crypto & Payments: Stripe-backed euro stablecoin EURR launched in late August and quickly reached about $665k in market cap, starting in Portugal among other markets. Business & Trade Links: Macao’s government wrapped an ASEAN-focused business tour, reporting 189 agreements signed to boost trade and tourism ties.